This can’t be much of a surprise. The Wyly Brothers and Allen Stanford — both Texas based, with a fondness for offshore financial dealings — have a connection.Louise J. Schauffele, a broker who worked on behalf of the Dallas-based brothers, also worked for Stanford.
In 2005, Stanford Group Company announced the hiring of Schaufele for private client services.
Also, apparently, The Wylys had money with Stanford, with Schaufele being the connection, according to a Dallas Morning News report from 2009.
After the Stanford case was brought, many predicted a further crackdown on offshore investing. The latest civil fraud charges against the Wylys would appear to be a continuation.